BHUBANESWAR: In the wake of the large-scale chit fund scams by various fraudulent agencies and organisations in the State, the Vandemataram group on Tuesday staged a street play here at the Master Canteen Square appealing to the people not to go by the tall promises of the chit fund companies and save their money in legal agencies following proper verification.

“Awareness is the key to achieve anything. Due to lack of awareness, various chit fund agencies have looted crores of rupees from investors in the State. Through this street play, we tried to convince people about various rules and regulations of the Government and Reserve Bank of India relating to money saving and circulation,” said group head Prahallad Nayak.

The group members in various ways tried to convince the passersby about the reality of the situation and, at the same time, appealed to the State Government for safe refund of money to the duped investors, besides stringent action against the persons responsible.

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BHUBANESWAR: Taking a cue from West Bengal, chief minister NaveenPatnaik on Tuesday announced Rs 300 crore corpus fund for victims of the multi-crore chit fund scam. "Under no circumstance will my government allow genuine investors to suffer. We are putting in place a strong legal and financial arrangement so that people do not suffer undue loss," the CM said in a statement.

BHUBANESWAR: Police on Wednesday filed preliminary chargesheet in a trial court here against Artha Tatwa (AT) Group CMD Pradeep Sethy and six others accusing them of embezzling public deposits worth crores of rupees. The development came a day after the state government announced Rs 300-crore corpus fund for victims of various chit fund companies.

BHUBANESWAR: The ruling BJD announcing a Rs 300 crore corpus fund to help victims of the mega chit fund scam has raised several eyebrows, with the opposition dubbing it as an 'election gimmick' and reiterating its demand for a CBI probe to unravel the truth.

BHUBANESWAR: Homestead land is a basic necessity for a dignified life and livelihood. Every individual and family needs house for shelter and settled life for which homestead land is the precondition. The homestead land rights include both Record of Rights (Patta) and possession over the land.

BHUBANESWAR: In a worrying trend for realtors, housing prices in the city has stagnated at pre 2009-2010 level. Several factors, including supply exceeding demand and eroding people's trust on developers due to series of scams are to blame, industry watchers said.

BALASORE: After spending a week in Balasore district jail, Artha Tatwa Group CMD Pradip Sethi and Director Manoj Patnaik were back in Jharpada jail in Bhubane­swar on Friday. They were taken on remand for three days in two phases by the Sahadevkhunta police in Balasore.

BHUBANESWAR: The Eco­nomic Offences Wing, which is investigating the financial fraud by Seashore Group, has found that the company was also into diamond busi­ness. Seashore chief Prashant Dash, who was arrested from Mumbai last month, fre­quented the Western Indian States in connection with its diamond business too. He had visited Surat apart from operating out of Mumbai.

CUTTACK: The Cuttack Development Authority (CDA) has identified 27 acres of land to develop Sector 15 and expand its jurisdiction. An integrated housing project will be developed in a public-private partnership mode at Brajabiharipur in Athagarh tehsil.

BHUBANESWAR: With more skeletons are tumbling out of the clos­ets in the multi-crore chit fund and real estate scam in the State, some in­vestors here have lodged a complaint with Chandrasekharpur police against Dhiraj Constructions and Marketing Pvt Ltd alleging a fraud of Rs 2.7 crore.